Everyday Bank Account | One Account

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Why choose our One Account?{yellow-border}

No monthly account keeping fees

With your Visa Debit card, free ATM withdrawals at all BOQ ATMs within Australia.

Interest on your balance

Earn interest on your everyday bank account when your balance is in credit, with interest calculated on daily closing credit balance.

Optional overdraft

Add an optional unsecured overdraft to access extra funds when you need them and pay interest only on the amount you use. When you access your overdraft, interest is charged on the amount you draw and interest is not earned on the account balance. And there’s no need to secure it against your property.

Government guarantee

Deposits up to $250,000 are protected under the Australian Government Deposit Guarantee.^~

Easy access to your money

Use your Visa debit card, app or online banking to pay, transfer, BPAY® and more.

Branch access

Deposit cash and cheques at any BOQ branch whenever you need in-person banking.

What is an optional overdraft?

Your One Account comes with the option to add an unsecured overdraft, giving you flexible access to funds, with interest only repayments on what you use.

Flexible access to extra funds

Tap into additional money whenever you need it - just use your BOQ Specialist debit card, transfer online or withdraw at ATMs.

Only pay for what you use

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You’ll only pay interest on the amount you use. There are no fees or charges on unused credit.

No property security required

This is an unsecured line of credit, which means you don’t need to tie it to your home or other personal assets.

Helps smooth out cash flow

Great for covering gaps in income or business expenses - your overdraft supports your day-to-day financial needs.

Your everyday bank account, with interest{yellow-border}

One Account isn’t just any transaction account: it’s an everyday bank account that earns interest along the way. Because banking should work for you.{sub-heading}

View interest rates

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Frequently asked questions{yellow-border}

If you can’t find the answer to your question here, there’s more support available.{sub-heading}

Help and support

Who is the One Account for?

The One Account is designed for professionals in the medical, dental, veterinary and accounting fields. It suits individuals looking for a flexible everyday bank account to manage daily finances, pay bills, and receive income. Whether you're running a practice, studying, or managing personal expenses, this transaction account provides simplicity, security, and flexibility as well as an optional overdraft for additional cash flow support. It’s also suitable for those professionals with a corporate or trust business structure that meet eligibility criteria, offering a reliable way to manage regular transactions.

What makes this account different from other everyday bank accounts?

Unlike most transaction accounts, One Account pays a variable interest rate on your daily closing credit balance, so your money grows while you use it. There are no ongoing monthly fees or minimum balance requirements, and you get full access to your funds online, in-app and via Visa debit card. With the added benefit of an optional unsecured overdraft, this everyday bank account offers more control, flexibility and value for professionals managing both personal and practice-related expenses.

Can I earn interest and use an overdraft at the same time?

You can earn interest on your One Account when your balance is in credit, with interest calculated on daily closing credit balances. If you use the optional overdraft, your account balance becomes overdrawn — interest is then charged on the overdrawn amount, and interest is not earned on the account.

What is the optional overdraft and how does it work?

The optional overdraft is an unsecured line of credit linked to your One Account. It provides flexible access to extra funds when you need them. It’s ideal for managing short-term cash flow or covering unexpected expenses. You only pay interest on the amount you use, and there are no fees on unused credit. You don't need to secure it against personal property. It’s a useful addition to an already handy transaction account.

What access do I have to my account?

Your One Account gives you fully digital access to your money. Use your Visa debit card to make purchases and withdraw cash at ATMs. Log in online or through the BOQ Specialist mobile app to make payments, transfer funds, use BPAY®, and manage your transactions. You can also deposit cheques and cash at BOQ branches.

Are there any fees or charges I should be aware of?

There are no ongoing monthly account-keeping fees or minimum balance requirements for the One Account. If you apply for the optional overdraft and are approved, a one-off application fee applies. Interest is only charged on the portion of the overdraft you use, not the total credit limit. All fees are outlined in the Transaction and Savings Account Overdraft Facility Terms and Conditions.

If you hold your One Account as part of a Home Loan Banking package, please refer to the Home Loan Banking Package page for details on how overdraft fees apply under the package, including where certain fees may be waived.